Ombudsman Maya Manolova Submits the Personal Bankruptcy Law to the National Assembly

At 11:00 today, Ombudsman Maya Manolova will submit a Bill on the bankruptcy of individuals, the so-called personal bankruptcy to the National Assembly.

Bulgaria is the only country in the European Union that lacks the legal framework for bankruptcy of individuals, while at the same time our country is in the top 5 in bad credits in Europe. At the same time, according to a new European Union directive, Bulgaria must align its legislation with the understanding of the "second chance" and with the development of a debt-deferral culture that will benefit both creditors and bankrupts.

Manolova will present the bill with young entrepreneurs, representatives of the startup association in Bulgaria.